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ProTrak International has released a major upgrade to its CRM platform for investment managers, hedge funds and private equity firms, Release 11.0. The latest release features a new option allows users to set up a designated secure folder where a copy of every document referenced in ProTrak is automatically kept and preserved in its original form, so that users cannot move or delete them.  Based on extensive observations and feedback from their global user community, ProTrack has also added a predictive, wizard-like Simplified Query option that pre-fills commonly used fields to save time. Individually personalised watermarks enable mass-customised reporting in
  The Board of Directors of the California Hedge Fund Association (CHFA) has elected Adam R Wagner (picture), Chief Operating Officer of Blue Jay Capital Management, to become a Director on the Board.  In his current role Wagner is responsible for the daily trading operations, marketing and investor relations functions at Blue Jay which manages long/short equity healthcare portfolios. Prior to joining Blue Jay in 2013, Wagner was a vice president of Pershing, a BNY Mellon company, where he was a senior member of the Sales and Relationship Management group within Pershing Prime Services. Wagner was responsible for establishing and
The Alternative Investment Management Association (AIMA), the global representative body for alternative asset managers, is to establish a new volunteer network in Bermuda. AIMA members on the island will be represented by a new Executive Committee (ExCo). This ExCo and supporting committees will seek to boost membership and support the continued development of Bermuda’s alternative investment community.   The initiative is being chaired by Craig Bridgewater, a Managing Director of KPMG in Bermuda, who called for volunteers to join the ExCo and contribute to AIMA initiatives locally and globally at a launch event at the Bermuda National Gallery attended by
The Managed Funds Association (MFA) has filed a comment letter addressing the automated trading rules, known as Regulation AT, proposed by the Commodity Futures Trading Commission (CFTC). “MFA Members support the CFTC’s goal of modernising regulatory oversight of futures trading with appropriate risk controls, transparency measures and other safeguards,” says MFA President and CEO Richard H Baker (pictured). “However, this proposal takes a one-size-fits-all approach and MFA Members have concerns with aspects of the proposal that could put sensitive and proprietary information at risk, unnecessarily.   “We appreciate the Commission’s work on these important issues, but believe regulators should focus
Hedge fund liquidations increased in the last quarter of 2015, as volatility and turmoil from the second half of 2015 resulted in falling investor risk tolerance and capital redemptions from underperforming hedge funds, according to the latest HFR Market Microstructure Report. In Q4, hedge fund liquidations rose to 305, representing an increase from the 257 liquidations in the prior quarter, as well as the 203 liquidations from Q4 2014. For the full year (FY) 2015, an estimated 979 hedge funds liquidated, an increase from the 864 fund liquidations in 2014, and the highest calendar year total since 2009, when 1,023
Commodity Pool Operator (CPO) Equinox Fund Management is to pay a USD250,000 penalty and disgorgement of USD5,404,004 to settle CFTC charges that it made misstatements and omissions in disclosure documents and reports for the Frontier Fund (TFF). A CFTC order finds that TFF’s disclosure documents prepared by Equinox wrongly disclosed the basis on which management fees were charged, leading to overcharges of management fees of USD5.4 million.  Additionally, TFF’s annual and quarterly reports misstated that its valuation of certain options was corroborated by the counterparty’s settlement values; failed to disclose a material subsequent event; and misstated that an option had
Vestmark, an SaaS based technology provider of portfolio management and trading solutions, has launched Vestmark Manager Marketplace (VMM), a solution designed to connect asset managers efficiently with sponsors (RIAs, Banks, Broker Dealers) who use third-party management in model portfolio format or in separately managed accounts (SMAs). VMM represents the next evolution of Vestmark's "investment platform as a service," building upon the innovative SaaS and award-winning BPO services leveraged by their clients today. VMM provides sponsors with unprecedented transparency and efficiency for accessing the expertise of third-party managers while providing asset managers with access to broad distribution among advisors through a
Seward & Kissel is pleased to announce that David Tang has joined the Firm as Counsel in its Investment Management group. Previously, he was Counsel to compliance consultant and investment management law firm Orical LLC.  This marks a return to Seward & Kissel for Tang, who was an Associate in the Investment Management group from 2002 to 2006. Tang concentrates his practice on providing regulatory compliance consulting, compliance support services and legal counsel to fund advisers and asset managers. His experience includes SEC mock audits and compliance testing, SEC exam response, implementation of compliance policies and procedures, regulatory filings, private
Hedge fund strategies outperformed equity markets in the first two months of 2016, according to the performance of IndexIQ’s IQ Hedge family of benchmark hedge fund replication indexes. “The volatility that characterised 2015 and the start of 2016 continued through the beginning of February but sentiment improved in the second half of the month,” says Adam Patti (pictured), CEO of IndexIQ. “Overall, our family of benchmark hedge fund replication indexes was mostly positive for the month, led by our IQ Merger Arbitrage Index, which returned 2.07 per cent, while only the IQ Hedge Long/Short Index finished February in negative territory.”
The US Commodity Futures Trading Commission (CFTC) has unanimously approved a substituted compliance framework for dually-registered central counterparties (CCPs) located in the European Union (EU), together with a comparability determination with respect to certain EU rules.  This action follows the historic agreement between the CFTC and the European Commission regarding dually-registered derivatives clearing organisations (DCOs)/CCPs and represents a major step in paving the way for the EU’s recognition of US CCPs. [See CFTC-EU Common Approach] In the Notice of Comparability Determination for the European Union: Dually-Registered Derivatives Clearing Organisations and Central Counterparties (Determination) announced today, the CFTC determined that certain

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